$BTC just took a sharp dive to $72,911, down nearly 3.96% in the last 24 hours. Here’s a quick breakdown of the move:
Key Drivers
· Technical Pressure: Price fell below the key MA60 level (~$73,045), signaling a breakdown in short-term support. The low RSI suggests strong selling momentum.
· Liquidity Hunt: The drop from the 24h high of $76,971** towards the low of **$71,888 likely targeted clustered stop-losses below $73K, creating a liquidations cascade.
· Volume Spike: 24h volume hit 2.87B USDT, indicating high institutional and whale activity, often a sign of distribution or panic selling.
Context: This could be a combination of profit-taking after recent highs, miner outflow selling, or broader macro uncertainty weighing on risk assets. The order book depth shows thin support on the way down.
What’s Next?
Watch the $71,888 level—a break below could target lower supports. However, with the RSI deeply depressed, a short-term bounce may occur if bids step in. Always manage risk and avoid over-leveraging in volatile moves.
Trade safe, stay alert, and keep your stops in place. The market is reminding us that corrections are part of the cycle.
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